US President Donald Trump on Monday warned of 10% additional tariffs on countries that align with BRICS, a bloc comprising ten countries – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump wrote on his social media platform, Truth Social.

The statement comes hours after the leaders of BRICS countries met in Rio de Janeiro, Brazil, to voice “serious concerns” about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO (World Trade Organization) rules.

The BRICS leaders reiterated their support for the rules-based, open, transparent, fair, inclusive, equitable, non-discriminatory, consensus-based multilateral trading system with the WTO at its core, with special and differential treatment for its developing members.

"The multilateral trading system has long been at a crossroads. The proliferation of trade-restrictive actions, whether in the form of indiscriminate rising of tariffs and non[1]tariff measures, or protectionism under the guise of environmental objectives, threatens to further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and affecting prospects for global economic development,” the statement said.

BRICS nations also condemned the military strikes against the Islamic Republic of Iran since 13 June 2025.

Prime Minister Narendra Modi participated in the 17th BRICS Summit being held in Rio de Janeiro. Addressing the session on Global Governance and Peace and Security, Prime Minister Modi reaffirmed India’s commitment to enhancing the voice of the Global South. He noted that developing countries required greater support for sustainable development, in terms of access to climate finance and technology. Highlighting that the global organizations of the 20th century lacked the capacity to deal with the challenges of the 21st century, he underscored the need for reforming them. Calling for a multipolar and inclusive world order, the Prime Minister stated that global governance institutions such as the UN Security Council, the IMF, the World Bank, and the WTO must undergo urgent reform to reflect contemporary realities.

“Today, the world needs a new multipolar and inclusive world order. This will have to start with comprehensive reforms in global institutions. These reforms should not be merely symbolic, but their real impact should also be visible. There must be changes in governance structures, voting rights, and leadership positions. The challenges faced by countries in the Global South must be given priority in policymaking,” PM Modi said.

“The expansion of BRICS and the inclusion of new partners reflect its ability to evolve with the times. Now, we must demonstrate the same determination to reform institutions like the UN Security Council, the WTO, and Multilateral Development Banks. In the age of AI, where technology evolves every week, it's unacceptable for global institutions to go eighty years without reform. You can’t run 21st-century software on 20th-century typewriters!” he added.